JD Sports raises dividend after profits beat expectations

Sportswear retailer JD Sports said on Wednesday that it made an underlying
pre-tax profit of £67.4m for the year to January 30 – a 26pc increase on the
previous year.

8:07AM BST 14 Apr 2010

Revenue increased 14.8pc to £769.8m with sales up 2.5pc. Like-for-like sales were up 2pc in the 10 weeks to April 10.

JD Sports Fashion

The company, which trades as JD Sports, Size, Bank and Scotts, increased its final dividend to 14.7 pence, making 18 pence for the year, a 50pc rise.

Shares in JD Sports have risen by over three quarters over the last year, outperforming a 56pc rise in the general retailers index.

"Opportunities for profit growth overseas, the rollout of our principal fashion fascia, development of our differentiated and own-brand proposition, and growth in our distribution business all help to reduce threats to group profitability and give us the opportunity to maintain the positive momentum in our business,” chairman Peter Cowgill said in the statement.